Read's predecessors Dirk Meyer and Hector Ruiz had a base of $950,000 each, plus the usual bonuses. Jerry Sanders left the daily business of AMD in 2002 with a salary of $916,000 (but may have earned more during certain years - for example, he reportedly earned $1.04 million in 1996, which may have included some bonuses).
Read also received a $1 million sign-on bonus, half of which he has to repay if he leaves AMD within the next 2 years. He is eligible for up to 150 percent bonus of his base salary as well as the common incentive programs. During a conference call with media and analysts, Read mentioned that the pay was not the reason why he is joining AMD, but rather the "exciting" opportunity. Referring to his salary, he noted that he held a great job before AMD at Lenovo as president and COO. However, we believe that the pay isn't a downside of this job either.
Read more about Read's hiring here.
New CEO be smart, buy the HP PC Line they are selling it.
this could do you well in the OEM market where intel holds supremacy.
Not that I do not like intel. I have may intel products,. I would just like to keep the compition is check.
Buying Hp's line would be a disaster since it would make AMD a direct competitor with Dell, Lenova, Apple, Asus, Acer, etc..... That would be about as smart as 3DFX making its own chipset.
Ummm, the purchasing power of the dollar has fallen over 30% in the past 3 years. So yes, that is not such a great salary.
if you put 1 million into stocks, at about a 7% interest rate a year, which is about what stocks yield at minimum if you don't suck at playing the market, thats 70k on the interest alone. you could theoretically live your entire life off 1 million $ alone. southernsharkBuying HPs line would be a disasterBuying Hp's line would be a disaster since it would make AMD a direct competitor with Dell, Lenova, Apple, Asus, Acer, etc..... That would be about as smart as 3DFX making its own chipset.
yea, but tell me, what to most of those lines put into their own pcs? it sure as hell isnt intel.
what amd could do with the hp line, is use it as a platform to get amd out there. build monster systems, but don't sell it to make a profit, sell it to break even with a minimal profit. this way you are putting out pcs that are of amassing quality, but also cheap, and can get some bran recondition beyond the ati gpus.
it could be a good move, than when the brand recondition is up, sell off the pc devision for a sizable profit, as the pc was just to get brad recondition up, not to pull in the profit, though selling it off for more is a nice bouns.
It's not envy, it's disgust. He should a 100K base and the rest performance based.